Stock market news

Stocks struggle for direction as yields rise - After a strong rebound over the previous two days led by tech, equity markets finished mixed today. The Nasdaq was helped by an 11% jump in the shares of Tesla after the company reported first-quarter results that were not as bad as feared*. The company also announced a renewed push to accelerate the launch of less expensive cars to improve growth. However, the TSX, U.S. small-caps and the Dow declined, as higher bond yields offset optimism on corporate profits. The defensive sectors outperformed, while the industrial sector lagged, as shares of Boeing declined after Moody's slashed the company's credit rating. Elsewhere, WTI oil pulled back below $83, but remains up more than 15% year-to-date*. In Canada, retail sales declined 0.1% in February, falling short of the preliminary estimate for a 0.1% gain. The estimate for March suggests that sales were unchanged in March, further reinforcing expectations that the BoC is likely to cut rates in June.

^*FactSet

Last week’s solar eclipse captured a ton of eyeballs (literally), which is logical considering the rarity of the event. But there was another seemingly rare event last week: The stock market turned lower.

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Edward Jones experts share their financial markets and economic forecasts on what's to come.